Saskatchewan Land Transfer Tax 2024
Saskatchewan Flag What is land transfer tax?
When buying a home, many people overlook the significant cost of land transfer tax. When you acquire a property (and the land it rests on), you must pay a tax to the government after the transaction closes. The amount paid depends on the value of your property. Our calculator shows you how much you can expect to pay and why.
Saskatchewan Land Transfer Tax Calculator
Comparison of Saskatchewan Land Transfer Taxes with Other Provinces
Saskatchewan Land Transfer Tax Rates & Rebates
| Purchase Price of Home | Marginal Land Title Transfer Fee |
|---|---|
| First $500 | $0.0 |
| $500 to $6,300 | $25.0 |
| Over $6,300 | 0.4% |
Saskatchewan Land Transfer Fees
Although Saskatchewan does not charge Land Transfer Taxes as the other provinces do, they do charge several smaller closing fees collected by your lawyer. The Saskatchewan Land Titles Registry (ISC) takes care of issuing titles and transactions regarding property and land, and when a piece of land is bought its title must be registered with the Registry showing its location and owner. Similar to Land Transfer Taxes in other provinces, Saskatchewan charges a much smaller fee on the registration of the buyer’s title called Land titles fee. Other fees include a flat fee paid on registering a mortgage and other other documents, legal fees paid to lawyers and other professionals which would normally cost around $1000 or lower if there is no mortgage involved, and costs associated with property taxes and adjustments if the seller has already paid taxes for the property in which case you would need to provide credit for your share of taxes. There are no rebates for first-time home buyers.
Visit our Canada Land Transfer Tax page to find out more information about land transfer and other taxes across Canada.
Additional Fees Associated With Property Purchase in Saskatchewan
When you purchase a property in Saskatchewan, you must pay several smaller fees in addition to the land transfer tax. These fees include the land titles fee, the mortgage registration fee, legal fees, and property tax adjustment costs. However, you can also use a closing cost calculator to determine an estimate.
- The land titles fee is a charge assessed by the Saskatchewan Land Titles Registry when a title is registered for a piece of land. This fee is based on the property's value and is paid by the buyer.
- The mortgage registration fee is a flat fee charged by the Saskatchewan Land Titles Registry when a mortgage is registered. This fee is also paid by the buyer.
- Legal fees are fees charged by lawyers and other professionals for their services in a property transaction. These fees can vary widely depending on the services provided but typically range from $500 to $1,000.
- Property tax adjustment costs are charges assessed by the municipality when a property is transferred between owners. These costs reflect the amount of taxes that have been paid on the property by the seller and must be credited to the buyer.
There are no rebates or tax credits available for first-time home buyers in Saskatchewan.
